Reliance Power shares soar 10%, snap 4-day losing streak. What’s triggering the sharp surge?
Shares of Reliance Power surged 10% to an intraday high of Rs 27.36 on the BSE on Wednesday after the company said it has taken
Shares of Reliance Power surged 10% to an intraday high of Rs 27.36 on the BSE on Wednesday after the company said it has taken steps to participate in the rapidly evolving artificial intelligence (AI) and new-age technology space through its subsidiaries. The rally also snapped the stock's four-session losing streak.In a regulatory filing, the company said it has undertaken enabling measures to incorporate AI and technology-driven activities within its business framework. As part of the initiative, the relevant business objects covering artificial intelligence and technology-enabled services have been added to its subsidiaries.
The company has also adopted new names for four subsidiaries to reflect the move.The subsidiaries have been renamed as Reliance AI Green Power Private Limited, Reliance AI Power Private Limited, Reliance AI Data Control Private Limited and Reliance AI Data C Private Limited.Reliance Power Q4 snapshotReliance Power reported a consolidated net loss of Rs 494 crore for the quarter ended March 31, compared with a consolidated net profit of Rs 125.57 crore in the corresponding quarter of the previous financial year. The company's total income declined to Rs 1,946.33 crore during the quarter from Rs 2,065.64 crore a year earlier.For FY26, Reliance Power posted a net loss of Rs 336.89 crore, against a net profit of Rs 2,947.83 crore in FY25.Reliance Power, part of the Reliance Group, develops, constructs and operates power generation projects in India and overseas.
The company, along with its subsidiaries, has a diversified portfolio of power generation assets spanning operational projects as well as projects under development.Its power projects are spread across different geographies and use multiple fuel sources, with each project strategically located near fuel supplies or demand centres. Reliance Power has an operational power generation capacity of nearly 6,000 MW.Reliance Power share price is down 22% since the beginning of the year and over 60% in the last 1 year. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
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